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wwatts1734's review
4.0
This little book is an excellent introduction to Economics by Robert Heilbroner, one of the best economic historians of the middle of the 20th Century. In it, Heilbroner writes about the history of Western society from the vantage point of economics, and by doing so he introduces the reader to the major principles of economic theory. Heilbroner starts with the ancient world and discusses economic history in a way that is eminently readable and enjoyable. He avoids the vices of most modern historians who read modern values and social systems into the past, but rather Heilbroner is careful to explain the various systems that shaped society in the past, such as religion, politics, culture and other factors. Heilbroner also discussed at length the major economic systems of mankind, the traditional, the capitalistic and the command economy. His treatment is very thorough but understandable, and the reader walks away feeling like he truly understands how each of these economic systems work.
Overall I was thoroughly impressed with this work, although there were a couple of things that prevented me from giving this a 5 star rating. Firstly, Heilbroner's treatment of the Soviet economy under Stalin was a bit too apologetic in my mind. This is understandable, since Heilbroner defended the position of the Church in the Medieval economy and in other ways sought to avoid passing judgement on people or institutions. Still, his explanation of the misery brought about by Stalin in the 1920s and 30s reminded me of Walter Duranty, who in the 1930s commented about Stalin's massacre of millions of Ukrainians during collectivization, "well, in order to make an omelette one must break a few eggs!" Secondly, Heilbroner's treatment of economic development in the Third World was lacking in my opinion. Specifically, Heilbroner fell into the position of many scholars of the 1950s and 60s who blamed Third World poverty on overpopulation as the root of all development evils. Certainly we have seen the weird demographic price that society has paid since the 1960s for its birth control policies, and ironically much of the labor that fuels economic growth in Europe and North America today comes from the young men and women from the Third World who were the products of "overpopulation". Still, one can't blame Heilbroner for falling into the fallacies of his day. Karl Marx once said that human capital is the source of all true economic growth, and he labeled those who disagreed with him as the "vulgar economists." By the 1960s, it seems that the vulgar economists were in charge.
I would highly recommend this little book to anyone who is a student of economics or who simply wants to read a good, readable introduction to economic thought and history.
Overall I was thoroughly impressed with this work, although there were a couple of things that prevented me from giving this a 5 star rating. Firstly, Heilbroner's treatment of the Soviet economy under Stalin was a bit too apologetic in my mind. This is understandable, since Heilbroner defended the position of the Church in the Medieval economy and in other ways sought to avoid passing judgement on people or institutions. Still, his explanation of the misery brought about by Stalin in the 1920s and 30s reminded me of Walter Duranty, who in the 1930s commented about Stalin's massacre of millions of Ukrainians during collectivization, "well, in order to make an omelette one must break a few eggs!" Secondly, Heilbroner's treatment of economic development in the Third World was lacking in my opinion. Specifically, Heilbroner fell into the position of many scholars of the 1950s and 60s who blamed Third World poverty on overpopulation as the root of all development evils. Certainly we have seen the weird demographic price that society has paid since the 1960s for its birth control policies, and ironically much of the labor that fuels economic growth in Europe and North America today comes from the young men and women from the Third World who were the products of "overpopulation". Still, one can't blame Heilbroner for falling into the fallacies of his day. Karl Marx once said that human capital is the source of all true economic growth, and he labeled those who disagreed with him as the "vulgar economists." By the 1960s, it seems that the vulgar economists were in charge.
I would highly recommend this little book to anyone who is a student of economics or who simply wants to read a good, readable introduction to economic thought and history.
iancolby's review
5.0
I'll eventually re-read the book. I remember it being very important not only to my idea of economics, but to my idea of the world. Probably the most important book I read as an undergraduate.
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